XML 20 R7.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
2 Months Ended 10 Months Ended 12 Months Ended
Mar. 14, 2018
Dec. 31, 2018
Dec. 31, 2018
Dec. 31, 2017
Cash Flows From Operating Activities        
Net (loss) income $ 2,336     $ 8,302
Successor [Member]        
Cash Flows From Operating Activities        
Net (loss) income   $ (2,620)    
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:        
Stock based compensation   8,618    
Bad debt expense   816    
Depreciation and amortization of property and equipment   5,583    
Amortization of intangible assets   2,621    
Amortization of debt discount   377    
Gain on sale of property and equipment   (1)    
Deferred income taxes   (1,774)    
Changes in operating assets and liabilities:        
Receivables   (2,686)    
Inventories   (18,896)    
Prepaid expenses and other   (479)    
Income tax receivable/payable   (593)    
Other assets   (157)    
Accounts payable, accrued expenses and other current liabilities   (6,135)    
Total Adjustments   (12,706)    
Net Cash (Used in) Provided By Operating Activities   (15,326)    
Cash Flows From Investing Activities        
Cash paid for acquisitions   (101,478)    
Cash acquired in the purchase of Lazy Days' R.V. Center, Inc.   9,188    
Proceeds from sales of property and equipment   41    
Purchases of property and equipment   (3,627)    
Net Cash Used In Investing Activities   (95,876)    
Cash Flows From Financing Activities        
Net borrowings under M&T bank floor plan   123,619    
Repayment of Bank of America floor plan   (96,740)    
Net (repayments)/borrowings under floor plan      
Repayments of line of credit      
Repayments under long term debt with Bank of America   (8,820)    
Borrowings under long term debt with M&T bank   20,000    
Repayment of long term debt with M&T bank   (2,176)    
Net proceeds from the issuance of Series A preferred stock and warrants   57,650    
Net proceeds from the issuance of common stock and warrants   32,719    
Proceeds from financing liability   5,584    
Repayments of financing liability   (430)    
Dividend payments to Series A Preferred stockholders   (2,635)    
Dividend payments      
Repayments of notes payable to Andina related parties   (761)    
Repayments of acquisition notes payable   (183)    
Payment of contingent liability - RV America acquisition      
Loan issuance costs   (693)    
Net Cash Provided by (Used In) Financing Activities   127,134    
Net Increase (Decrease) In Cash   15,932    
Cash - Beginning   10,671    
Cash - Ending 10,671 26,603 $ 26,603  
Supplemental Disclosures of Cash Flow Information:        
Cash paid during the year for interest   7,541    
Cash paid during the year for income taxes net of refunds received   4,706    
Non-Cash Investing and Financing Activities        
Rental vehicles transferred to inventory, net   598    
Conversion of Andina redeemable common stock to common stock of Lazydays Holdings, Inc.   4,910    
Rental equipment purchased under floor plan      
Fixed assets purchased with accounts payable   818    
Conversion of preferred stock into common stock      
Accrued dividends on Series A Preferred Stock   1,210    
Beneficial conversion feature on Series A Preferred Stock   3,392    
Warrants issued to Series A Preferred stockholders and investment bank   2,666    
Common stock issued to former stock holders of Lazy Days' R.V. Center, Inc.   29,400    
Note payable incurred in acquisitions   5,820    
Net assets acquired in dealership acquisitions   21,034    
Net assets acquired in the acquisition of Lazy Days' R.V. Center, Inc.   106,391    
Predecessor [Member]        
Cash Flows From Operating Activities        
Net (loss) income 2,336     8,302
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:        
Stock based compensation 140     497
Bad debt expense     422
Depreciation and amortization of property and equipment 1,058     5,286
Amortization of intangible assets 154     744
Amortization of debt discount 136     371
Gain on sale of property and equipment (1)     (98)
Deferred income taxes 630     (1,030)
Changes in operating assets and liabilities:        
Receivables 5,143     (6,647)
Inventories 1,435     9,823
Prepaid expenses and other 44     1,179
Income tax receivable/payable (3,573)     2,863
Other assets 18     176
Accounts payable, accrued expenses and other current liabilities 2,463     2,168
Total Adjustments 7,647     15,754
Net Cash (Used in) Provided By Operating Activities 9,983     24,056
Cash Flows From Investing Activities        
Cash paid for acquisitions    
Cash acquired in the purchase of Lazy Days' R.V. Center, Inc.    
Proceeds from sales of property and equipment     249
Purchases of property and equipment (694)     (2,584)
Net Cash Used In Investing Activities (694)     (2,335)
Cash Flows From Financing Activities        
Net borrowings under M&T bank floor plan    
Repayment of Bank of America floor plan    
Net (repayments)/borrowings under floor plan (12,272)     9,208
Repayments of line of credit     (3,000)
Repayments under long term debt with Bank of America (310)     (1,858)
Borrowings under long term debt with M&T bank    
Repayment of long term debt with M&T bank    
Net proceeds from the issuance of Series A preferred stock and warrants    
Net proceeds from the issuance of common stock and warrants    
Proceeds from financing liability    
Repayments of financing liability (144)     (465)
Dividend payments to Series A Preferred stockholders    
Dividend payments     (15,000)
Repayments of notes payable to Andina related parties    
Repayments of acquisition notes payable    
Payment of contingent liability - RV America acquisition (667)     (1,333)
Loan issuance costs     (139)
Net Cash Provided by (Used In) Financing Activities (13,393)     (12,587)
Net Increase (Decrease) In Cash (4,104)     9,134
Cash - Beginning 13,292 $ 9,188 $ 13,292 4,158
Cash - Ending 9,188     13,292
Supplemental Disclosures of Cash Flow Information:        
Cash paid during the year for interest 2,182     8,332
Cash paid during the year for income taxes net of refunds received 3,587     3,325
Non-Cash Investing and Financing Activities        
Rental vehicles transferred to inventory, net 89     74
Conversion of Andina redeemable common stock to common stock of Lazydays Holdings, Inc.    
Rental equipment purchased under floor plan 2,911    
Fixed assets purchased with accounts payable    
Conversion of preferred stock into common stock     2
Accrued dividends on Series A Preferred Stock    
Beneficial conversion feature on Series A Preferred Stock    
Warrants issued to Series A Preferred stockholders and investment bank    
Common stock issued to former stock holders of Lazy Days' R.V. Center, Inc.    
Note payable incurred in acquisitions    
Net assets acquired in dealership acquisitions    
Net assets acquired in the acquisition of Lazy Days' R.V. Center, Inc.